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Federal Life Group — an organization that lately started promoting a life insurance coverage coverage that gives long-term care advantages on the worksite — has employed a pacesetter who has years of expertise with stand-alone long-term care insurance coverage.
The Riverwoods, Illinois-based firm introduced earlier this week that it has named Knut Olson to be its CEO and a member of its board.
Olson beforehand was the CEO of Nationwide Guardian Life, a life insurer that has been working to struggle the long-term care insurance coverage drought and introduce a brand new LTCI coverage.
Federal Life has additionally added three new unbiased board members, together with Tom Marra, who lately retired from a seat on the board of Symetra Life. Earlier, Marra was the CEO of Symetra, and, earlier than that, he was the chief working officer at Hartford Life.
What It Means
Federal Life could possibly be making ready to ramp up efforts to assist purchasers plan for retirement revenue and long-term care wants.
Federal Life
Federal Life is an organization based in 1899. In 2019, it used financing from Insurance coverage Capital Group, a agency with two former state insurance coverage commissioners on its board, to revamp its operations.
Since then, along with the life-LTC hybrid, it has launched merchandise equivalent to a high-deductible Medicare complement insurance coverage coverage.
Previously, it teamed up with Nationwide Guardian to supply dental insurance coverage in New York state.
Federal Life Management
Invoice Austin took over from Joe Austin because the CEO of Federal Life in 2018. Austin is the corporate’s government chairman.
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